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cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in a major crisis. it reads subject emergency the shooter at the aurora mall last night was james holmes i am worried ab
cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being...
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Dec 10, 2012
12/12
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if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up, and across the board spending cuts will kick in on january 1st. economists say that combination would plunge the country back into a recession. >> reporter: there are signs some republicans will willing to compromise on taxes if they can secure cut to social security, medicare and medicaid. >> give the president the 2% increase that he is talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlement. >> reporter: one proposal under discussion, raising the eligibility age for medicare is not going over well with democrats and advocates for senior citizens. >> the option, for example, to raise the medicare age actually is bad policy and will increase costs, because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowers skyrocketing health care costs. in washington, danielle nottingham, cbs 5. >>> a hopeful sign for the economy, today is expected to
if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up, and across the board spending cuts will kick in on january 1st. economists say that combination would plunge the country back into a recession. >> reporter: there are signs some republicans will willing to compromise on taxes if they can secure cut to social security, medicare and medicaid. >> give the president the 2% increase that he is talking about, the...
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i mean can we solve this whole fiscal cliff by just taxing those no no unfortunately we can't we face something and this is this is what your viewers need to understand most americans haven't got this yet we're in new territory we have a sixteen trillion dollar debt. it has a potentially crushing impact people here in washington say you know that that doesn't matter what difference does it make we can borrow as much money as we like forever wrong we can't if you don't grow economically you can't attract investment truth is we're not really growing theoretically at one point two percent and falling europe is in serious trouble what happens in europe what happens in china where they're preparing for a hard landing all of these things will have an impact here we're in a lot of trouble you can't retire that debt so no you could confiscate all the wealth from the top five percent of the american people it would make a dent really it wouldn't make a try you know have your talk about running the government for six months. all right well let's talk about the new the the new fiscal year two th
i mean can we solve this whole fiscal cliff by just taxing those no no unfortunately we can't we face something and this is this is what your viewers need to understand most americans haven't got this yet we're in new territory we have a sixteen trillion dollar debt. it has a potentially crushing impact people here in washington say you know that that doesn't matter what difference does it make we can borrow as much money as we like forever wrong we can't if you don't grow economically you...
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Dec 11, 2012
12/12
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and medicare out of the fiscal cliff debate. >> don't talk about them as if they are give aways. these are programs that people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. in washington, danielle nottingham, cbs 5. >>> cell phones on the streets. the plan the give california's homeless their own phone and the reason supporters claim the program will help create jobs. >>> plus. >> we're so sorry this has happened. >> . >>> it was a radio prank with a tragic end. the radio djs apologize. >>> it is a different kind of plan, one for your bank account. the step to take for a financial diet and how much money you could actual slave. ,,,,,, cell phones for low income californians. >>> we have food stamps and housing assistance and soon free cell phones for low income people. >> the new program, who qualifies and why some see it as a way up. grace. >> reporter: allen, this is already available in
and medicare out of the fiscal cliff debate. >> don't talk about them as if they are give aways. these are programs that people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. in washington, danielle nottingham, cbs 5. >>> cell phones on the streets. the plan the give california's...
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Dec 11, 2012
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the payout of 92 million he feared the blooming fiscal cliff and tax hike. he said he took his share of the money every month to avoid higher taxes next year. >> friends family and friends are mourning the loss of mexican american singer rivera. the 43-year-old believed to have been killed in a plane crash in mexico. her license was found in the plane. her body we are told was found this morning. even though the ntsb confirmed her death the family says they are still not losing hope. >> in our eyes we still have faith that my sister will be okay. we have no confirmation of her body being recovered. >>> we were told this morning that her body was recovered. we will have to check on that and give you word. the family is heading to mexico today. >> he was convicted of murdering a 7-year-old girl 15 years after the crime. the 73-year-old was sentenced in an illinois courthouse that case was considered one of america's oldest unsolved crimes. he had been dismissed as a suspect back when it happened and he went on to become a washington state police man. he was ar
the payout of 92 million he feared the blooming fiscal cliff and tax hike. he said he took his share of the money every month to avoid higher taxes next year. >> friends family and friends are mourning the loss of mexican american singer rivera. the 43-year-old believed to have been killed in a plane crash in mexico. her license was found in the plane. her body we are told was found this morning. even though the ntsb confirmed her death the family says they are still not losing hope....
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Dec 13, 2012
12/12
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, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
, and then the fiscal cliff. susan, thank you very much. we appreciate it, michael. thank you, doug. great to have you with us. now for your comments,
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Dec 10, 2012
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if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements. >> reporter: one proposal under discussion, raging the eligibility age for medicare is not going well for some dem -- democrats and advocates for senior citizens. >> the option to raise the medicare age is bad policy and will increase costs. because people who are 65 and 66 still need health insurance. >> reporter: the aarp says the real solution to cutting the deficit is lowering skyrocketing healthcare costs. in washington, danielle nottingham, wjz eyewitness news. >> well, the official fiscal cliff deadline is december 31st. many on capitol hill say an agreement is needed buyer the before the end of this w
if the president and speaker boehner can't reach an agreement to avoid the fiscal cliff, taxes for all americans will go up and across-the-board spending cuts will kick in on january 1st. >> reporter: there are signs some republicans are now willing to compromise on taxes, if they can secure cuts to social security, medicare, and medicaid. >> you give the president the 2% he's talking about, the rate increase on the top 2%. and all of a sudden, the shift goes back to entitlements....
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Dec 10, 2012
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president obama and house speaker john boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to work through the holiday break if no deal is reached before then: the federal reserve is expected to announce an expansion o of their program. they will extend the program of buying $85 billion of securities each month into the the new year. announcement is expected when the bankers meet tomorrow and wednesday. a new survey shows pay for private college presidents continues the upward climb. they studied data from 2010 and median compensation rose to $400,000. that is up nearly 3 personality. that's a -- percent. that's a pretty good paying job there. very lucrative. >> cbsmoneywatch.com, thank you. >>> a heavy storm is pummeling the upper midwest. 15 inches of snow dumped on the twin city in minnesota. crews are cranking up the late to melty snow -- melt snow on the roof. it dumped 17 inches of snow on the roof
president obama and house speaker john boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to work through the holiday break if no deal is reached before then: the federal reserve is expected to announce an expansion o of their program. they will extend the program of buying $85 billion of securities each month into the...
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Dec 10, 2012
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...
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Dec 7, 2012
12/12
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that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that the country is facing. >> even the president got the tax rate hike he wanted understand we would continue to see trillion dollar deficits for as far as the eye can see. listen, washington has got a spending problem, not a re-knew problem. >> for many top democrats it's all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome o
that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -- raising taxes on upper income americans is not going to fix the problem that...
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Dec 13, 2012
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the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total ince that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free exible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on when
the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains...
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Dec 6, 2012
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cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons' ceiling, and they could do this anytime. there would not have to go back to congress. -- they would not have to go back to congress. guest: it is true that technically the administration can do some things without even the congress's approval, but it would not be a lasting solution. let's say you could freeze the amount of withholding that you pay three paycheck at the level it was this year, for the 98%, and increase withholdings for everyone else as the law would dictate if you read over the cliff. -- went over the cliff. but the 98%, if they did not actually pass a law to extend the tax cuts for tha
cliff expire, go down the fiscal cliff for tax rates, and adjust the taxes for the 98% through the rebate process. and this could be available for anyone, any president. let the bush tax rates apply as a ceiling, and then apply the rebate process to control the 98%. host: why do you propose that? what is the advantage in your view? caller: because the executive branch, the president, whoever it is, would have the ability to adjust the tax effectively for anyone who falls below the clintons'...
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Dec 8, 2012
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if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short sales. expect short sales to jump more as homeowners look to avoid getting hit with taxes and banks look to avoid getting stuck with properties. if we go over the cliff the tax bill homeowners face with the short sale may be steep enough to walk away instead. that would push foreclosure rates higher in 2013. for smart is the new rich i'm christine romans. >> coming up, a huge legal headache for pop star shakira. she's being slapped with a $100 million lawsuit by her ex-boyfriend and former business partner. does he have a case? our legal guys share their thoughts. americans believe they should be in cha
if the tax break goes away as part of the so-called fiscal cliff they could be taxed on the $95,000 as additional income starting in 2013. >> how much homeowners will owe on that amount depends on the tax bracket they are in. on average it would be $20,000 to $25,000. banks have extra incentive to sell short and absorb the loss. under the act that went in this year the nation's biggest lenders get a credit on short sales. foreclosures also sell for $30,000 less than homes sold via short...
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Dec 11, 2012
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how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in the country, down from 11.2 million in 2010. that's down from a peak of 12 million unauthorized immigrants reported in 2007. latino voters overwhelmingly supported president obama in november, and he has said immigration reform will be high on his second term agenda. homeland security secretary janet napolitano will oversee the administration's next steps. ray suarez sat down with her earlier today. >> suarez: secretary napolitano, welcome to the program. >> thank you. suarez: over the week past there's been a lot of reporting saying once we figure out what
how the fiscal cliff could impact your tax bill? calculate how much you would pay under different policy scenarios on paul's "making sense" page. >> ifill: once congress gets past its budget woes, another huge domestic challenge awaits. republicans and democrats have said they will take up immigration reform. the question is how. last week a new pew hispanic center report showed illegal immigration is on the decline. last year there were 11.1 million illegal immigrants living in...
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cliff impacts news well it's a potential change to the tax exempt status of municipal bond interest yeah they're federal tax exempt more you may not know about you know simple bonds and our word of the day plus apple concedes defeat one of the world's coming due after what wired dubbed map map the hawk the libs or its disaster of a map app on the i phone five google mountain is back we'll discuss in loose change let's get to today's capital account. all right let's back up a little bit in late two thousand and ten it was prominent banking analyst meredith whitney is a big call. there's not a doubt in my mind that you will see a spate of municipal bond evolves how many is a spate you could see fifty sizeable defaults fifty to one hundred sizeable default more this woman out to hundreds of billions of dollars worth of defaults it will be something to worry about within the next twelve months. ok now it failed to play out as she seemed to indicate it would over the following year in turn pretty much ever since we have seen a spate of headlines similar to this murder of whitney unocal w
cliff impacts news well it's a potential change to the tax exempt status of municipal bond interest yeah they're federal tax exempt more you may not know about you know simple bonds and our word of the day plus apple concedes defeat one of the world's coming due after what wired dubbed map map the hawk the libs or its disaster of a map app on the i phone five google mountain is back we'll discuss in loose change let's get to today's capital account. all right let's back up a little bit in late...
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Dec 8, 2012
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we take a look at how the fiscal cliff will directly affect our state if an agreement isn't reached. the biggest thing on the chopping block. hundreds of thousands of jobs! plus. it's 71 years to the day japan launched a deadlywe honor the veterans who lost their lives in that attack. >> heigthe high-tech break your budget and now dollars in gross state product. it would also mean the loss of 225-thousand jobs. and about 400,000 unemployed californians would stop getting checks at the end of the year. return "when it comes to the fiscal cliff that is threatening our economy and threatening jobs the white house has for the president if he's with a counter offer." >> congressional republicans days and counting to work will take effect. r today marks the 71st anniversary of japan's deadly attack on pearl a 21 gun salute. 7th, 1941. >>jacqueline: on 60s to cupertino, also 60s for the inland valleys. 60s in livermore, concord, and a low 60s for the east bayshore. along the coast, 60s in ocean beach. 60s for the north bay and with a look at your extended forecast areas of fog in the north
we take a look at how the fiscal cliff will directly affect our state if an agreement isn't reached. the biggest thing on the chopping block. hundreds of thousands of jobs! plus. it's 71 years to the day japan launched a deadlywe honor the veterans who lost their lives in that attack. >> heigthe high-tech break your budget and now dollars in gross state product. it would also mean the loss of 225-thousand jobs. and about 400,000 unemployed californians would stop getting checks at the end...
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Dec 10, 2012
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if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures sell for $3700 less than homes via short sale. as we near the fiscal cliff you could expect short sales jump more as homeowners look it to aavoid gigt hit with tacks and bankss with foreclosed prormts. if we go over the cliff, the tax bill homeowners face with a short sale may be steep enough to walk away instead, and that would push foreclosure rates higher in 2013. for smart is the new rich, i'm christine romans. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been c
if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit...
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cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. but you take a person who's makimake $50,000 per year, it's about 1,700 a year. >> i'm going to guess that even if we do leap off the cliff, we'll have some type of a resolution, some type of a deal that will be retroactive back to january 1. but why play with poison like that, right now have to expect that you want that deal done now. >> what are the convinces for tfor -- consequences for military personnel? >> just on the defense sector alone, you're looking at $55 billion in cuts just to the defense budget. you have to look at the ancillary part of this. you look at real estate holdings, homes that are have a close proximity to defense. >> final question for you, todd, a major confu
cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. but you take a person who's makimake $50,000 per year, it's about 1,700 a year. >> i'm going to guess that even if we do...
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Dec 13, 2012
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zero heartburn. . >> it is that time again, time to peer over the fiscal cliff of taxes and punishing spending cuts. no real progress to speak of in an effort to get a deal done. scheduled to kick in in 19 days now. as we mentioned, john boehner said the president is not serious. they are demanded by republicans and we did notice this. speaker boehner did not reject a vote for the first of the year to prevent the increase on incomes under $250,000 a year. president obama with the brought support of democrats and the public wants to keep them the same and raise rates on the top 2%, the wealthiest americans. he will talk about spending cuts. nice to have you on. >> great to be with you. >> one of your colleagues, they said this is outgoing with the republican of south carolina. he sounds as though he is throwing in the towel. he said president obama will get his wish. higher tax rates for the wealthy. congressman brown, will the president get his wish? >> i think the president wants higher tax rates for everybody. even the lowest paid employees in this country is pushing towards. the pr
zero heartburn. . >> it is that time again, time to peer over the fiscal cliff of taxes and punishing spending cuts. no real progress to speak of in an effort to get a deal done. scheduled to kick in in 19 days now. as we mentioned, john boehner said the president is not serious. they are demanded by republicans and we did notice this. speaker boehner did not reject a vote for the first of the year to prevent the increase on incomes under $250,000 a year. president obama with the brought...
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Dec 13, 2012
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if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these agricultural producers, among our farmers, our timberland owners about the current inaction on the fiscal cliff, the fiscal crisis. a good example is allen nipper. he is a timber landowner who operates a tree farm in magnolia, arkansas. he wrote to me about what he rightfully calls multiple taxation. he says we know our lands provide clean water and wildlife habitats that benefit society in general without us expecting a handout or a payment for providing those services. he goes on to say but then at my death, the government wants to take up to 55% of the value after i have invested my efforts into
if the president and the senate majority refuse to compromise on the tax portion of the fiscal cliff agreement, the death tax will rise dramatically. arkansas farmers will be forced to hand over to uncle sam up to 55% of the value of family farmer states that are worth more than $1 million beginning in 2013. this would have a truly devastating impact on nearly a quarter of arkansas' family farms and ranches. with 97% of arkansas' farms being family owned, there is great concern among these...
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Dec 10, 2012
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the land of oz with the person hiding behind the machines to raise taxes now and they violated the fiscal cliff. t want to stand up and provide america the fiscal clef, do you want to go on the national and explain that you are so reactionary and out of touch with life that you don't care that america is going to die late on their state? it's all right if that is the kind of person that you are. you will never be on television because after all, you are clearly weird. [laughter] let me start with the fiscal cliff right here and say there is no fiscal cliff. conservatives and republicans are demoralized. get over it. we did a number of stupid things. they were smarter than we work, work harder than we did, fought longer than we did, did some clever things. ronald reagan, one of the most important single statements is february, 1975 in washington that the conservative political action committee meeting. now, i was part of this. i have no sense of timing. so i picked one. [laughter] ayman georgia. i have a strange accent, a weird name. this was beyond not clever. [laughter] this is light don
the land of oz with the person hiding behind the machines to raise taxes now and they violated the fiscal cliff. t want to stand up and provide america the fiscal clef, do you want to go on the national and explain that you are so reactionary and out of touch with life that you don't care that america is going to die late on their state? it's all right if that is the kind of person that you are. you will never be on television because after all, you are clearly weird. [laughter] let me start...
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Dec 13, 2012
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when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's not part of a compromise or anything. it is what politicians do instead of. reforming of - instead of reforming government. europeans eventually put in energy taxes and that is what obama is doing. he spent his five trillion dollars in the first term and wants to take us a trillion dollars more in debt over the next decade. there's no way to raise taxes to pay for that. we have to rein in spending. raising taxes is what politicians do when they don't have the courage to reform government. host: you can read this new press release on the internet. canada and middle-class families face high medical
when you think about fiscal cliff, the bush tax cuts have collapsed, sequestration cuts spending, and then there's a trillion dollar tax increase that obama has over the next decade to pay for obamacare. interestingly, he decided to delay those taxes until after he was reelected. but they start kicking in in january. very painful and hit the middle class hard. the reason not to raise taxes is to have a spending problem. we spent too much money. raising taxes is not part of spending less. it's...
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Dec 8, 2012
12/12
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MSNBCW
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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Dec 13, 2012
12/12
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FBC
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all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new evidence of obamacare doing more harm than good to your bottom-line. we will have the latest and we are on the case next in "the willis report." speed. tracy: fannie mae and anyone sparking outrage over six-figure salaries. many executives are raking in serious money. these agencies have accrued $138 billion in taxpayer funding. they still owe us $137 billion of that. for more on this, let's bring in rich edson. a former executive vice president. he is now president and fellow -- excuse me, resident fellow at the american enterprise institute. these salaries are really bothering a lot o
all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new...
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Dec 13, 2012
12/12
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KGO
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. >>> let's get the latest, now, on that fiscal cliff. just 19 days before everyone's taxes go up. every federal program is cut. and there's no signs of any progress from president obama and house speaker john boehner, which is raising the tension on capitol hill. abc's jonathan karl is there. and both sides are giving up hope of solving this by christmas. >> reporter: that's right. in fact, speaker boehner and republican leaders have warned rank and file republicans that they should be prepared to be here in washington, through christmas, and until the new year. the two sides don't even agree on what's holding everything up. the white house says that everything could be resolved quickly if republicans just agreed to raise tax rates on the wealthy. republicans say what's really the problem here is the white house won't get serious about spending cuts. >> everyone waiting on those two men. meanwhile, one of the side casualties may be that funding for the victims of hurricane sandy. >> reporter: that's right. i do not think that hurricane sandy funding, the $60 billion request from t
. >>> let's get the latest, now, on that fiscal cliff. just 19 days before everyone's taxes go up. every federal program is cut. and there's no signs of any progress from president obama and house speaker john boehner, which is raising the tension on capitol hill. abc's jonathan karl is there. and both sides are giving up hope of solving this by christmas. >> reporter: that's right. in fact, speaker boehner and republican leaders have warned rank and file republicans that they...
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Dec 13, 2012
12/12
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CSPAN2
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if congress fails to act and we go over the fiscal cliff, the tax rate on capital gains will increase to 20% on january 1, 2013. in today's fragile economy, with unemployment still hovering around 8%, we should not be raising taxes on capital gains. two years ago, a study by the american council for capital formation showed that increasing the capital gains tax would cause measurable damage to the economy. the study estimated that if the capital gains tax was increased to 20% from 15%, real economic growth would fall by 0.05 percentage points per year and jobs would decline by about 231,000 per year. if the rate is increased to 28%, real economic growth declines by 0.1 percentage points per year and 602,000 fewer jobs are created each year. and the fiscal cliff is only part of the story. in less than a month, a new 3.8% tax on net investment income of single taxpayers earning more than $200 and -- $200,000 and married couples earning more than $250,000 will go into effect as part of the so-called accountable care act. as a result the tax rate on capital gains for upper-income taxpayer
if congress fails to act and we go over the fiscal cliff, the tax rate on capital gains will increase to 20% on january 1, 2013. in today's fragile economy, with unemployment still hovering around 8%, we should not be raising taxes on capital gains. two years ago, a study by the american council for capital formation showed that increasing the capital gains tax would cause measurable damage to the economy. the study estimated that if the capital gains tax was increased to 20% from 15%, real...
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Dec 6, 2012
12/12
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KTVU
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they say congress needs to add tresz the so-called fiscal cliff before scheduled tax sxhieks spending cuts go into effect. one berkeley mother was among those in washington. >> like many families, i don't have any other place to cut right now so we're here to stand up and make sure that our voices are heard. >> the group also delivered signed petitions urging congress to end the bush tax cuts for the wealthy. >>> representatives from huns of charities have descended on capitol hill in an effort to dlsh there has been talk of capping the deduction but nonprofit leaders say they're afraid if the government limits the deduction people would drastically cut back on their donation. >> that means there will be less opportunity for people to be fed. there will be less nights of care provided for those who are homeless. there will be less service for disaster situations. >> some republican pros pose limiting all itemized tax deductions, but president obama wants to increase tax rates for the wealthiest 2% of americans instead. >>> government regulators are taking action against a baby recline
they say congress needs to add tresz the so-called fiscal cliff before scheduled tax sxhieks spending cuts go into effect. one berkeley mother was among those in washington. >> like many families, i don't have any other place to cut right now so we're here to stand up and make sure that our voices are heard. >> the group also delivered signed petitions urging congress to end the bush tax cuts for the wealthy. >>> representatives from huns of charities have descended on...
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Dec 6, 2012
12/12
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KPIX
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for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at stake if we go over the "fiscal cliff." the daily democrat predicts that our state could lose $4.5 billion and lose about 200,000 jobs and with 26 days until that deadline, the painful reality is just becoming more clear. >> at 3:00, they want to start us closing on wednesday at noon. >> reporter: a social security employee for 30 years he is joining fellow federal workers across the u.s. to spread the word that the "fiscal cliff" is looming and at stake, social security benefits for millions. >> they seem to go for the people who had the least political pull, poor, disabled, people in east oakland. >> reporter: people like a social secure recipient who relies on every federal dollar. if these benefits were to be cut how would this affect you and your frien
for the wealthiest 2% of americans. >> and the "fiscal cliff" deadline is now a day closer and still no deal between the president and republicans. political reporter grace lee is live in the newsroom with what this gridlock could cost californians. grace. >> reporter: well, liz, now we have some very real numbers that's what's at stake if we go over the "fiscal cliff." the daily democrat predicts that our state could lose $4.5 billion and lose about 200,000 jobs...
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Dec 5, 2012
12/12
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CNBC
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president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what this is all about. t
president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best...
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Dec 10, 2012
12/12
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KGO
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. >>> wall street also watching as both sides inch to the fiscal cliff. not only are your taxes in the balance, so are americans' 401(k)s. and today, a holiday bonus, gas prices. we bring in bianna golodryga. the anchor of weekend "gma." you look at gas prices. on a pace to set a record. >> the average american household is expected to spend $4,000 a year on gasoline alone. remember, earlier this year, we saw gas prices at 3.92 a gallon back in april in the summertime. some places in the country, $5 a gallon. today, take a look at this, $3.35 and by christmas time, estimates say we will see $3.20 a gal don. a lot has to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did some digging and here is what we found. not a surprise. retail up, 53,000 up in, and professional, hospitality and restaurants. hotels and 23,000 and he
. >>> wall street also watching as both sides inch to the fiscal cliff. not only are your taxes in the balance, so are americans' 401(k)s. and today, a holiday bonus, gas prices. we bring in bianna golodryga. the anchor of weekend "gma." you look at gas prices. on a pace to set a record. >> the average american household is expected to spend $4,000 a year on gasoline alone. remember, earlier this year, we saw gas prices at 3.92 a gallon back in april in the summertime....
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Dec 6, 2012
12/12
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WMAR
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. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay the bills. she has been what a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more
. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed...
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Dec 6, 2012
12/12
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WUSA
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we talk a lot about your taxes going up buzz because of the fiscal cliff but your kids could suffer too. the impact on the classroom. that's coming up at 6:07. good morning. you're watching 9news. >>> welcome back. if your kids are getting new bikes for christmas, we have a great place that you can donate one of their old ones. here's an example of one of the old ones that's getting donated. joining us is winston and juang. why did you decide to get involved with this and do this effort? >> i started this charity about seven years ago with our -- our mom and i went over to africa. i saw a lot of people walking and in particular i saw all the women walking. it really had an effect on me because it reminded me of my grandmother. i wanted to know how i could help these people. my first thought was to send them cars or to send them food but nobody has an old car to give and food is just temporary. so i thought why not give them a bike because a bike can be used anywhere. it can be a means of transportation. it was a great solution. >> you guys have a pretty big goal this year, right? >> yes
we talk a lot about your taxes going up buzz because of the fiscal cliff but your kids could suffer too. the impact on the classroom. that's coming up at 6:07. good morning. you're watching 9news. >>> welcome back. if your kids are getting new bikes for christmas, we have a great place that you can donate one of their old ones. here's an example of one of the old ones that's getting donated. joining us is winston and juang. why did you decide to get involved with this and do this...
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beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a matter of math. >> reporter: amidst all
beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some...
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Dec 7, 2012
12/12
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cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best spokesman for conservatism. >> no, no. >> we should put a paul ryan -- we need younger leadership. >> paul ryan came out publicly in support of boehner. that's point number one. secondly, boehner jumped ryan over more senior people to put him as head of the budget committee. that's my second point. and boehner himself is being advised by ryan every step of the way. >> what do you say about this purge then? he's purging people that wants to balance the budget. >> you lost, ron. don't blame boehner. blame the republican party. blame conservatives. jim demint sa
cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best...
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Dec 10, 2012
12/12
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CNN
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time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory and i actually think it has merit where you go ahead and give the president the 2% increase that he's talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlements. >> the shift he's talking about is the political pressure to get larger spending cuts which a good many democrats oppose. we'll see how it works out for him because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of pol
time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory...
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Dec 12, 2012
12/12
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FBC
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they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balancing risks. they do not want to risk the recovery that we have underway already, even though it is slow. i expect two things. first, they will not change policy. they will continue quantitative easing. they will probably stop operation twist. simply because they do not have anyone short-term securities of any significance to sell. they will continue the asset buying programs as a hedge against going over the cliff. connell: all these names that we have become familiar with, you mentioned operation twist and quantitative easing, one, two, three, the speculation about four. basically, easy on it. policy. you are telling us, and a lot of people expect, they are worried about what the fiscal people are doing or not doing. >> they do not have to with interest rates so low. >> well, that is the trade-off. a lot of people think that
they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balancing risks. they do not want to risk the recovery that we have underway already, even though it is slow. i expect two things. first, they will not change policy. they will continue quantitative easing. they will probably stop operation...